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Net assets at 31 March
2005 amounted to £3,851 million compared to £3,066 million
at 31 March 2004, with the increase due to the retained profits
of £938 million offset by the £195 million buyback of
shares and currency movements.
BT
Group plc, the parent company, had reserves of £9,096 million
at 31 March 2005 and £9,585 million at 31 March 2004.
BT’s
fixed assets totalled £16,654 million at 31 March 2005 of
which £15,916 million were tangible assets, principally forming
the UK fixed network. At 31 March 2004 fixed assets were £16,015
million and tangible assets were £15,487 million.
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